Drilling Tools price target lowered to $5.50 from $7.50 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Drilling Tools (DTI) to $5.50 from $7.50 and keeps a Buy rating on the shares. Drilling Tools reported “a bit of a disappointing quarter” as Q3 results missed the firm’s estimates and the company cut guidance again given that industry activity levels continue to negatively impact results, the analyst tells investors. While the firm cut estimates to reflect these dynamics, it adds that it is “optimistic about the long-term upside.”